HONG KONG, Aug 17 (IFR) - Asian credits traded slightly tighter on Thursday as the Federal Reserve's concerns about weak US inflation increased speculation that the timing for another rate rise this year may be delayed.

Investment-grade credits, in general, were 1bp-2bp tighter with bonds of some big Chinese state-owned enterprises such as ChemChina and Chengtong trading more actively, according to a Hong Kong-based trader.

The iTraxx Asia IG index tightened marginally to 81.29bp/82.29bp.

CK Infrastructure's newly priced US$500m 4.85% subordinated perpetual non-call five securities, being priced at par, were weak at 99.00/99.30.

Chinese property developer Cifi Holdings' 5.375% senior perpetual non-call five securities priced Tuesday gained 0.125 points and were trading at 100.00/100.125.

Medco Energi's 8.50% 2022s were flat at 98.875/99.875. The Indonesian oil-and-gas exploration and production company yesterday reopened a US$100m tap of its 8.5% 2022s at 99.005.

Tencent's bonds were little changed although its shares hit a new record today on the back of better-than-expected quarterly earnings. Its 2.875% 2020s were bid at 101.623 while its 3.80% 2025s were bid at 104.532.

(Reporting by Carol Chan; Editing by Vincent Baby)